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Skilte Company is required by law to collect and remit sales taxes to the state. If Skillen has $8,000 of cash sales that are subject

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Skilte Company is required by law to collect and remit sales taxes to the state. If Skillen has $8,000 of cash sales that are subject to an 8% sales tax, what is the journal entry to record the cash sales? Debit Cash $8,640; credit Sales $8,000; credit Sales Taxes Payable 5640. Debit Cash $8,000: credit Sales $8.000; and record the taxes when paid Debit Accounts Receivable $8.640 credit Sales $8.000; credit Sales Taxes Payable $640. Debit Sales Taxes Payable $640: debit Cash $7,360, credit Sales 18.000 Debit Cash $8,000; credit Sales 57,360; credit Sales Taxes Payable $640

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